Lord Abbett & CO. LLC decreased its stake in CBRE Group, Inc. (NYSE:CBRE - Free Report) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 701,390 shares of the financial services provider's stock after selling 39,175 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.23% of CBRE Group worth $92,085,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CBRE. Integrated Wealth Concepts LLC boosted its stake in shares of CBRE Group by 99.7% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,343 shares of the financial services provider's stock worth $439,000 after acquiring an additional 1,669 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of CBRE Group by 64.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 11,700 shares of the financial services provider's stock worth $1,536,000 after acquiring an additional 4,590 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of CBRE Group by 85.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,147,783 shares of the financial services provider's stock worth $281,984,000 after acquiring an additional 991,354 shares in the last quarter. Nippon Life Global Investors Americas Inc. boosted its stake in CBRE Group by 269.4% during the 4th quarter. Nippon Life Global Investors Americas Inc. now owns 251,270 shares of the financial services provider's stock valued at $32,989,000 after purchasing an additional 183,250 shares during the period. Finally, IHT Wealth Management LLC bought a new stake in CBRE Group during the 4th quarter valued at approximately $201,000. Hedge funds and other institutional investors own 98.41% of the company's stock.
CBRE Group Price Performance
Shares of CBRE traded down $0.63 during mid-day trading on Wednesday, reaching $121.12. The company had a trading volume of 343,489 shares, compared to its average volume of 1,988,712. CBRE Group, Inc. has a twelve month low of $84.24 and a twelve month high of $147.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.13. The company's 50-day moving average is $126.80 and its 200-day moving average is $132.02. The company has a market capitalization of $36.32 billion, a P/E ratio of 38.57 and a beta of 1.26.
CBRE Group (NYSE:CBRE - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The financial services provider reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.05. CBRE Group had a return on equity of 16.96% and a net margin of 2.71%. The firm had revenue of $8.91 billion during the quarter, compared to analysts' expectations of $8.73 billion. During the same period last year, the firm posted $0.78 EPS. The business's revenue was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that CBRE Group, Inc. will post 5.99 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on CBRE. UBS Group decreased their target price on CBRE Group from $146.00 to $130.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Jefferies Financial Group upgraded CBRE Group from a "hold" rating to a "buy" rating and increased their target price for the company from $133.00 to $152.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. reduced their price objective on CBRE Group from $163.00 to $141.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Morgan Stanley reduced their price objective on CBRE Group from $165.00 to $160.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Raymond James downgraded CBRE Group from a "strong-buy" rating to an "outperform" rating and reduced their price objective for the stock from $155.00 to $152.00 in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.22.
Check Out Our Latest Stock Analysis on CBRE
Insider Activity at CBRE Group
In other news, insider Chad J. Doellinger sold 797 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $126.31, for a total value of $100,669.07. Following the completion of the sale, the insider now directly owns 28,735 shares of the company's stock, valued at $3,629,517.85. This represents a 2.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Emma E. Giamartino sold 2,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $125.69, for a total value of $251,380.00. Following the completion of the sale, the chief financial officer now directly owns 107,343 shares of the company's stock, valued at approximately $13,491,941.67. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.42% of the company's stock.
About CBRE Group
(
Free Report)
CBRE Group, Inc operates as a commercial real estate services and investment company in the United States, the United Kingdom, and internationally. The Advisory Services segment offers strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices, and industrial and retail space; clients fully integrated property sales services under the CBRE Capital Markets brand; clients commercial mortgage and structured financing services; originates and sells commercial mortgage loans; property management services, such as marketing, building engineering, accounting, and financial services on a contractual basis for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
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